Elite class to be brought to tax net, vows PM after Budget 2024-25 approval

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif on Friday hailed the approval of the budget 2024-25 in the National Assembly (NA), vowing to bring elite class and tax defaulters to tax net, ARY News reported.

The remarks came during the prime minister’s meeting with Finance Minister Muhammad Aurangzeb as he lauded the latter and his team preparing a “pro-people budget” that prioritises welfare of common man and promises to steer the country towards economic prosperity.

Talking to the finance minister, PM Shehbaz expressed his satisfaction over the active participation of all the treasury and opposition members in the budget session.

He also appreciated the efforts of the officers from ministries of finance, planning, other relevant ministries and Federal Board of Revenue (FBR) in preparation of the budget.

The government, he said tried its best to utilize all possible resources to provide maximum relief to the common man. He said the government provided relief to the salaried class, pensioners and workers.

The prime minister highlighted that a special attention was given in the budget to various important sectors such as health, education, agriculture and information technology.

He said the elite class and the tax defaulters would be brought to the tax net. It is not possible for the poor pay the taxes and the elites enjoy tax exemptions, he added.

Expressing satisfaction over the economic situation, the prime minister said the country’s economy had now been put on the right path and that Pakistan’s journey of prosperity had begun.

PM Shehbaz Sharif further said due to the business friendly policies of the government, the trust of the investors had been restored on the government.

He said the government was taking steps to bring reforms in the government departments and privatize the loss making State Owned Entities on priority.

Earlier in the day, the National Assembly (NA) approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion.

Minister for Finance and Revenue Muhammad Aurangzeb moved the motion for consideration of the Finance Bill, 2024 to give effect to the financial proposals of the federal government for the year, commencing on July 1, 2024.

The motion was passed with majority vote which led to the passage of Finance Bill-2024 after clause-by-clause reading and adopting amendments after due process of voting. All the amendments, presented by the opposition members, were rejected.